Voluntary sequestration is the surrendering of your estate to the Master of the High Court under the governance of the Insolvency Act 24 of 1939. This application brought in the High Court of South Africa, by an Attorney in cooperation with and advocate on behalf of the debtor (the applicant) to have 60% – 80% of his/her debt written off, as a final resort to escape insurmountable debt accrued through circumstances beyond his/her control.
Liquidation is the process by which a company gets closed down, because the business has become insolvent. Liquidation can either be the end of a chapter in your life, or it can be an enabler for a new chapter. We at Debt Correct can help you with the registration of your new company.
Rehabilitation after sequestration is the process through which a person who previously sequestrated restores their legal status to that of solvent. Rehabilitation restores their ability to become a credit worthy consumer.
We specialise in sequestrations, rehabilitations & liquidations. We are able to provide easily understandable and practical guidelines.
Our experience in these matters makes Debt Correct particularly empathetic towards our clients day to day stress in dealing with unrelenting creditors.
We strive to provide to best service possible and to help take the burden of financial stress of our clients.